J&J makes $2B push into ADCs with Ambrx buyout in oncology deal spree: #JPM24
SAN FRANCISCO — Johnson & Johnson is adding to Big Pharma’s love for antibody-drug conjugates with a $2 billion cash deal to swoop up Ambrx Biopharma.
The deal was announced Monday morning as the annual JP Morgan Healthcare Conference gets underway alongside two other acquisitions: Merck-Harpoon and Novartis-Calypso. The trio of acquisitions follows a deal-heavy December as the industry expects Big Pharma to start spending its trove of cash to shore up its pipelines as end-of-decade patent expirations loom.
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